* Reproducing Figure 1
sts graph, failure
* Table 1 Regression (1)
stcox SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT, vce(cluster SECURITY)
* Table 1 Regression (3)
probit SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC, vce(robust) nolog
* Calculating the probability of an act of secondary securitization based on Regression (3). We regard this calculated probability of secondary securitization as encapsulating the objective element that drives the performance or non-performance of secondary securitization acts as we documented them.
predict Instr_SEC_SECURITIZATION
gen Resid_SEC_SECURITIZATION = SEC_SECURITIZATION - Instr_SEC_SECURITIZATION
* Table 1 Regression (2)
stcox Instr_SEC_SECURITIZATION Resid_SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT, vce(cluster SECURITY)
* Reproducing Figure 2
* STATA does not produce graphs of predicted rates of failure (ratification in our case). Rather, the following graph is of predicted rates of survival (non-ratification), and is not presented in the paper. The data points of this graph are saved in file "Survival rates with and without secondary securitization.dta" in order to calculate failure rates and manualy produce a graph of predicted rates of failure (ratification)
stcurve, survival at1( Resid_SEC_SECURITIZATION=0 ) at2( Resid_SEC_SECURITIZATION=1 ) outfile("C:\[enter your directory path here]\Survival rates with and without secondary securitization.dta" , replace) yscale(reverse)
* To reproduce Figure 2, open file "Survival rates with and without secondary securitization.dta", and save as file "Survival rates with and without secondary securitization short.dta". Open the data editor window, and delete all the recurring lines (leaving only one line per year) . There are no lines for the years 28, 33, 34, 37, 39, 40 and 42. Type them in, for each copying values from the previous year. Sort the data by the years. The generate the failure rates. Command: gen fail2=1-surv2. Commadn: gen fail3=1-surv3. Then produce Figure 2 with the Command: twoway (rbar fail2 fail3 _t).
* Appendix 1 Regression (A1.1)
probit ArchivedDisc RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC OPEN, vce(robust) nolog
* Appendix 1 Regression (A1.2)
* Identifying the restricted model
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC OPEN
* Dropping the variable with the highest VIF score greater than 2: NUMBER_ARAB
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC OPEN
* Dropping the variable with the highest VIF score greater than 2: NUMBER_MEMBERS
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC OPEN
* Dropping the variable with the highest VIF score greater than 2: OPEN
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: IO_POPULATION
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: Income
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: RIGHT_GOVERNMENT
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP RULEofLAW GINI UNITY_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: RULEofLAW
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP GINI UNITY_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: IO_NYC
collin RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP GINI UNITY_GOVERNMENT NEW_IO IO_ENGLISH
probit ArchivedDisc RATIFICATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity  GDP GINI UNITY_GOVERNMENT NEW_IO IO_ENGLISH, vce(robust) nolog
* Appendix 4 Regression A4.1
* Calculating the probability of an act of secondary securitization, now restricted to the 65 treaties for we found documnetation of ratification discussions. We regard this calculated probability of secondary securitization as encapsulating the objective element that drives the performance or non-performance of secondary securitization acts as we documented them.
probit SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC if ArchivedDisc==1, vce(robust) nolog
predict Instr65_SEC_SECURITIZATION
* Calculating the residual, which is regarded as encapsulating the non-objective element that drives the performance or non-performance of the documented acts of secondary securitization, and a purer measure of secondary securitization.
gen Resid65_SEC_SECURITIZATION = SEC_SECURITIZATION - Instr65_SEC_SECURITIZATION
stcox Instr65_SEC_SECURITIZATION Resid65_SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT, vce(cluster SECURITY)
* Appendix 4 - Identifying the restricted model for Regressions (A4.2)-(A4.4)
collin SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT
* Dropping the variable with the highest VIF score greater than 2: NUMBER_ARAB
collin SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT
* Dropping the variable with the highest VIF score greater than 2: NUMBER_MEMBERS
collin SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP Income RULEofLAW GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT
* Dropping the variable with the highest VIF score greater than 2: RULEofLAW
collin SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP Income GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT
* Dropping the variable with the highest VIF score greater than 2: MinisterWithCareerInSecurity
collin SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP Income GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT
* Appendix 4 Regression (A4.2)
stcox SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP Income GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT, vce(cluster SECURITY)
* Appendix 4 - Identifying the restricted model for probit Regression (A4.5)
* UNITY_GOVERNMENT is dropped because it is a perfect predictor of SEC_SECURITIZATION (no such acts were documented under a unity government).
* NEW_IO IO_POPULATION IO_ENGLISH IO_NYC are added to the probit model. because it is a perfect predictor of SEC_SECURITIZATION (no such acts were documented under a unity government).
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ARAB NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: NUMBER_ARAB
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity NUMBER_MEMBERS GDP Income RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: NUMBER_MEMBERS
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP Income RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_POPULATION IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: IO_POPULATION
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP Income RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2:  Income
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN MinisterWithCareerInSecurity GDP RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2: MinisterWithCareerInSecurity
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP RULEofLAW GINI RIGHT_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2:  RULEofLAW
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP GINI RIGHT_GOVERNMENT NEW_IO IO_ENGLISH IO_NYC
* Dropping the variable with the highest VIF score greater than 2:  IO_NYC
collin SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP GINI RIGHT_GOVERNMENT NEW_IO IO_ENGLISH
* Appendix 4 probit Regression (A4.5)
probit SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP GINI RIGHT_GOVERNMENT NEW_IO IO_ENGLISH, vce(robust) nolog
* Calculating the probability of an act of secondary securitization based on Regression (A4.5). We regard this calculated probability of secondary securitization as encapsulating the objective element that drives the performance or non-performance of secondary securitization acts as we documented them.
predict InstrV2_SEC_SECURITIZATION
* Calculating the residual, which is regarded as encapsulating the non-objective element that drives the performance or non-performance of the documented acts of secondary securitization, and a purer measure of secondary securitization.
gen ResidV2_SEC_SECURITIZATION = SEC_SECURITIZATION - InstrV2_SEC_SECURITIZATION
* Appendix 4 Regression (A4.3)
stcox InstrV2_SEC_SECURITIZATION ResidV2_SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP Income GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT, vce(cluster SECURITY)
* Appendix 4 Regression A4.4
* Calculating the probability of an act of secondary securitization, now restricted to the 65 treaties for we found documnetation of ratification discussions, and using the restricted model. We regard this calculated probability of secondary securitization as encapsulating the objective element that drives the performance or non-performance of secondary securitization acts as we documented them.
probit SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP GINI RIGHT_GOVERNMENT NEW_IO IO_ENGLISH if ArchivedDisc==1, vce(robust) nolog
predict InstrV265_SEC_SECURITIZATION
* Calculating the residual, which is regarded as encapsulating the non-objective element that drives the performance or non-performance of the documented acts of secondary securitization, and a purer measure of secondary securitization.
gen ResidV265_SEC_SECURITIZATION = SEC_SECURITIZATION - InstrV265_SEC_SECURITIZATION
stcox InstrV265_SEC_SECURITIZATION ResidV265_SEC_SECURITIZATION SUPRANATIONAL Majoritarian_IG SECURITY MINORITIES  NUMBER_ENEMIES NUMBER_COMMUNIST NUMBER_ISLAMIC UN_TREATY US_MEMBERSHIP VotingSimilarityInUN GDP Income GINI RIGHT_GOVERNMENT UNITY_GOVERNMENT, vce(cluster SECURITY)
